Trying to stay on top of the Boulder housing market. Think of it, its now the (mid) summer of 2019. Just ten years ago the country and our region were plunged in recession. It was difficult to give away houses. And that’s not an exaggeration. Prices in 2009 were rock bottom. Short sales and foreclosures were common.
It was so hard to sell homes, the Federal government offered tax credits if you would buy a house. I wonder – Did you take advantage of the tax credit program and purchase a home during the Great Recession? If so – please leave a comment below.
And now, here we are, a decade – a milestone – later. I watch a number of statistics reports on the market. One handy report is the Fidelity National Title update. Gives a quick pulse of the city of Boulder housing market. It comes with this handy graph:
Average Days On Market
This number reflects the length of time from listing to sold for a house in town. This is not the same as how long from being listed to under contract. That time frame is very quick. Especially well priced properties. It is still common to see a home go under contract in a single day.
Most Expensive Lease Expensive Boulder Home
A few years ago, I was blogging on sales stats every Saturday. Then I got really busy and those posts fell off. One of the highlights I always looked at was the million dollar plus market. Kind of funny, because that is now just an average home in Boulder. Still, to see that a home is marketed for eight point seven million dollars in Boulder is staggering. That’s quite a price for a place to live.
Housing Inventory Increases But Its Really Low
The graph above shows inventory numbers are up. The little line is pointing up. Must be a lot of houses for sale. But that is only a fraction of the picture. In the decade leading up to the Great Recession – so think 1999 to 2009 – inventory levels around Boulder were dramatically higher. By a factor of five times as much inventory, seven times as many homes for sale.
Currently, inventory is up, but just incrementally compared to the last year or two. BTW, another throwback reference. Do you remember worrying about Y2K!?! I went to a New Year’s Eve party where someone had messed with the antenna wires and the tv had no reception. We thought the end might be near. Ha. Two decades later, antennas are a thing of the past.
I write that, but the truth is, I just showed a gem of a home with a TV antenna on the roof.
Speaking of gems, that place was certainly a value. The house oozed being well cared for with various upgrades that seemed to stretch over the decades. It sold with multiple offers the first weekend it was offered. The best homes are still selling briskly in the Boulder home market.
ReListed – an interesting statistic
Re listed properties might not be with another Realtor. Frequently, agents will pull a house from the MLS and re enter the data to get a fresh MLS number. Other times, a home is clearly coming back on the market with another agent. One home that comes to mind for me, I’ve seen a plethora of listing agents have a sign along my commute route. Recently there was a for rent sign. Things to come. When you don’t get the number you want for your house, will you listen to the market on price or will you wait for the market to accept your voice on price?
Well, that’s it for now. Thanks for reading. Bob